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Half of U.S. homes are now more valuable than before the real-estate bubble burst

There’s a split emerging in the U.S. housing market: Some are becoming more valuable than ever, while others struggle to emerge from the financial crisis.

More than half of the homes nationwide are now more valuable than their pre-recession peaks, according a report released Thursday by real-estate website Zillow ZG, -0.02% The national median home value is now $217,300, an increase of 8.3% on the year and 8.4% above the bubble-era peak. In 21 of the nation’s 35 largest markets, the median home value is now at an all-time high.

Driving much of the home value appreciation nationwide is a reduction in the number of homes available on the market.

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